Heres a nice one Im using this year. Hire your kid and fill their roth ira.

*Children working for parents dont pay fica on the first appx 5k. Nor will they owe income tax on such a small amount, so its basically a tax free transfer.
*Earned income lets the kid use the roth ira.
*The pay is also a deductable business expense for the parent.

Heres a nice one Im using this year. Hire your kid and fill their roth ira.

*Children working for parents dont pay fica on the first appx 5k. Nor will they owe income tax on such a small amount, so its basically a tax free transfer.
*Earned income lets the kid use the roth ira.
*The pay is also a deductable business expense for the parent.

how old does a kid have to be for this to work ? of legal working age, i would assume..?